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AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria.It is an industry super fund, and so operates through a mutual fund structure.. With over A$ 340 billion of retirement savings under management and more than 3.4 million members, AustralianSuper is the largest superannuation fund in Australia and the sixteenth largest pension fund in the world.
A fund with only pension member accounts which pay the minimum complying pension for the whole year have a tax rate of 0%. These taxes contribute over $6 billion in annual government revenue. [ 41 ] Superannuation is a tax-advantaged method of saving as the 15% tax rate on contributions is lower than the rate an employee would have paid if they ...
The investment income of superannuation funds derived from those assets backing pensions (i.e., retirement phase accounts) is "exempt" income of the fund. In the 2016 federal budget, the government proposed to abolish, effective 1 July 2017, the exemption for investment income on a retirement phase account if the balance in the account exceeds ...
As of 2023, all industry funds operate under the legal structure of being a non-profit mutual fund. Industry funds collectively manage the retirement savings for 13 million accounts. All industry funds are governed by trustee boards, with board appointments from employers, trade union representatives, and employees from the relevant industry.
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It has 15 industry super funds as members, [1] which between them hold 5 million accounts. [2] Not every industry super fund is a member of the peak body, but most are, including Australia's largest industry funds such as AustralianSuper, CBUS, HESTA, and HostPlus. [3]
A video shared on X purports to show President Donald Trump being booed at Super Bowl LIX. Verdict: False The original video is from January 2020 and shows Trump and his wife, First Lady Melania ...
As the deadline for a potential TikTok ban in the U.S. approaches, billionaire and former Los Angeles Dodgers owner Frank McCourt's Project Liberty confirmed making a formal offer to Bytedance ...